PAX Launch and Other Business Updates From Madana

The month of June was very productive for the Madana Team, as they attended several events in Berlin and recently published a business update to keep the community up to date with the recent developments.

Madana is the first platform for data analysis based on the Lisk blockchain platform. In 2018 The Pioneer’s Vault, managed by Max Kordek, announced its first investment into this project (200.000 € at that time).

PAX is the Madana’s currency and this smart token enables anyone to buy data analysis results from a decentralized pool of information, while rewarding data producers.
The team announced that the PAX cryptocurrency will be launched this year and they have set up a special task force in order to initiate the release procedure.
At the same time they are working on the core business, guided by the strategy of focusing on the business-to-business sector first. In order to achieve this, they have successfully collaborated with world-renowned consulting companies such as Capgemini, Accenture and many more, finalizing concrete applications for some of them.

In order to demonstrate the quality of their privacy-preserving technology, they are also taking into account the launch of some pilot projects. In addition, the development process also served to build a network that allowed to attract many interested clients. All these factors will guarantee them the first revenues and will allow a real entry in the market.

Madana was also present at some meetups held during the month of June. The first of these was the NOAH19 Event, which was held in Berlin on the 13th and 14th of June. This event aimed at connecting companies and investors from different areas in the digital world and this year the main topic was the difficulty to use the opportunities of data with all the new regulations. This showed how Madana’s technology perfectly fits with worldwide needs linked with data management.

Another important event was the Crypto Monday meetup that took place on the 24th of June in Berlin. These German meetups are organized every month and are often sponsored by industry representatives. Madana is usually sponsoring the Crypto Monday meetup in Aachen, while the Berlin’s one this time was sponsored by SatoshiPay. The main topic of this month was “Interoperability of Blockchains & the Future of Internet” and representatives of Polkadot and Cosmos attended the event to present their respective solutions to this problem.

The last insights concern an interesting blog post by the Madana’s Marketing Manager Dennis Gilburg entitled “All Hail Our New AI Overlords?!”, discussing the dangers of artificial intelligence and the important role data ownership is playing in this regards, and the presentation of Daanyaal Walayat, new member of the business development team.